Lapointe was inducted into the Hockey Hall of Fame in 1993. In 884 NHL games, Lapointe recorded 171 goals and 451 assists for 622 points. He still holds the Montreal Canadiens' record for most goals in a season for a defenceman (28), and most goals for a rookie defenceman (15). His number (#5) was retired by the Canadiens on November 8, 2014. Since the #5 is already retired on behalf of Bernie Geoffrion, they will both share the honour.

Early into his NHL career, Lapointe was chosen to play in the historic 1972 Summit Series against the USSR. Lapointe accepted the invitation regardless of the fact his wife would give birth to his first child (Guy Jr.), during the series, while the team was in the USSR. He would compete internationally again for Canada in the 1976 Canada Cup and the 1979 Challenge Cup against the Soviets, which replaced that year's All-Star Game.